SouthState Q1 2024 Adj EPS $1.58 Beats $1.55 Estimate, Sales $415.494M Beat $414.330M Estimate
Portfolio Pulse from Benzinga Newsdesk
SouthState (NASDAQ:SSB) reported Q1 2024 adjusted EPS of $1.58, surpassing the $1.55 estimate, and sales of $415.494M, slightly above the $414.330M estimate. However, this represents an 18.13% decrease in earnings and an 8.20% decrease in sales from the same period last year.
April 25, 2024 | 9:04 pm
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NEUTRAL IMPACT
SouthState's Q1 2024 earnings and sales exceeded estimates but showed a year-over-year decline in both metrics.
While SouthState exceeded analyst expectations for both earnings per share and sales, the year-over-year decline in these figures could temper investor enthusiasm. The beat on estimates might provide some positive short-term momentum, but the declines highlight potential challenges in growth or operational efficiency. The mixed nature of this report suggests a neutral short-term impact on the stock price, as the positive surprise of beating estimates could be offset by concerns over the declines.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100